{"id":758,"date":"2021-03-16T00:11:38","date_gmt":"2021-03-16T04:11:38","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=758"},"modified":"2021-09-13T23:45:32","modified_gmt":"2021-09-14T03:45:32","slug":"xrp-price-range-bound-will-sec-withdraw-ripple-case","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/xrp-price-range-bound-will-sec-withdraw-ripple-case","title":{"rendered":"XRP Price Range-Bound but Can Hit $1, Will the New SEC Head Withdraw the Ripple Case?"},"content":{"rendered":"\n
\"Xrp
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The XRP price is stable on the last day and week, posting losses against the greenback, Bitcoin<\/a>, and Ethereum<\/a>.<\/p>\n\n\n\n

As of writing on March 16, XRP is changing hands at $0.45<\/a>, losing five percent week-to-date, under pressure from bears from a top-down approach.<\/p>\n\n\n\n

Overly, the path of least resistance is undefined, with bears appearing to be in control from volumes analysis. However, the uptrend set in November may hold, especially if prices continue to range as bulls soak in sell pressure.<\/p>\n\n\n\n

Participation is within range, optimum in the last week of trading. On the previous day, the average daily trading of XRP fell 10 percent to $2.5 billion. In total, 5.9 billion XRP changed hands across different ramps, indicating support despite the ongoing SEC case.<\/p>\n\n\n\n

XRP Price Overview<\/h2>\n\n\n\n

The XRP price remains in range, influenced by various factors, including supportive fundamentals in the past few days.<\/p>\n\n\n\n

From a top-down approach, XRP\/USD buyers are in control as prices consolidate horizontally with caps at $0.40 on the downside and $0.65 on the upside.<\/p>\n\n\n\n

Notably, relative to the two defining bars of Feb 1 and 22, participation is lower.<\/p>\n\n\n\n

Accordingly, for a clear uptrend to develop, either XRP prices must surge above $0.65 in a buy trend continuation pattern, or bears take over, reflecting losses of February 1, driving prices below $0.40\u2014in a breakout.<\/p>\n\n\n\n

As it is, the consolidation, therefore, can either prove to be a distribution or an accumulation, with catalysts being news streams from the SEC-Ripple case<\/a>.<\/p>\n\n\n\n

Buyers expect a moonshot above Nov 2021 highs of $0.78 towards $1 and above, especially if Ripple wins the case\u2014opening up opportunities for XRP.<\/p>\n\n\n\n

Ripple Market Movers<\/h2>\n\n\n\n

Ripple plans to disrupt remittance using blockchain technology.<\/p>\n\n\n\n

Its solutions appeal to both XRP holders and financial institutions needing superior messaging\u2014xCurrent and xVia. The On-Demand Liquidity (ODL)\u2014relies on XRP, has use among some payment processors.<\/p>\n\n\n\n

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Ripple\/XRP partners pic.twitter.com\/92hM4YEXfj<\/a><\/p>— M3 (@MWMmusic) March 8, 2021<\/a><\/blockquote>